HPI - Outstanding Finance

If you buy a car that has an outstanding loan or finance agreement against it then you are in danger of losing the vehicle and money you paid for it. This is a real risk when purchasing a second-hand vehicle, so using a car finance checker to look into its history is an important action to take.

All our HPI car checks include a car finance check, which will flag up any outstanding finance agreements that remain on the vehicle. This vehicle finance check will quickly let you know if the car, van or motorbike you’re after is safe to buy.

When finance is taken out on a car, it means that the lender maintains ownership of the vehicle until the complete debt has been paid off. Only then does it become the property of the borrower. An outstanding finance check will inform you of whether there is any debt owed on the vehicle.

Otherwise, even if you buy a car with the best intentions, without undertaking an HPI finance check on the car, you could end up buying a vehicle that is not legally yours. Where the finance has not been settled, the lender is within their rights to repossess the vehicle, meaning you could lose the car and money you paid.

Our vehicle checker services include many essential inspections to ensure the car you’re buying is safe and legal to purchase, including a logbook loan check. The debt stays with the vehicle and not the borrower, so unless you use a car finance checker beforehand, you can be taking on an extra financial burden or putting yourself at risk of losing the car.

Be wary of any place offering a free car check though, as anywhere that claims to provide such a service will not be delivering the genuine article. Instead, use the reliable HPI car checks we offer to be safe in the knowledge of your new vehicle’s financial history.